The first quarter of 2013 ended with faster rates of decline in manufacturing output, new orders and employment, confirming that the goods producing sector remained firmly in the grip of recession. Demand-side weakness continued to filter through to supply chains, with input costs decreasing on average for the first time in seven months. One encouraging development was a further rise in new export orders, the third in successive months. March saw the seasonally adjusted Markit/ADACI Purchasing Managers’ Index ® ( PMI ® ) fall to a seven-month low of 44.5, from February’s mark of 45.8. The latest reading was below the ... (full story)